The Department for Transport announced the £500m Restoring Your Railway Fund in January 2020 to enable opportunities to reinstate railway services and add new railway stations to the railway network. The fund has been split into three areas. Some media organisations have dubbed it the Reverse Beeching fund.
Note: Potential applicants should use the guidance and links on the Department for Transport website. The Network Rail website contains information for applicants wishing to apply for New Stations Fund round 3.
The Restoring Your Railway Fund will be split into three funds to support projects that are at different points of development:
- Ideas Fund
- Accelerating Existing Proposals
- Proposals for new or restored stations (also known as New Stations Fund 3)
Applications to this fund would restore railway services to communities that are not connected to the rail network. Examples include restoring railway services on freight lines, disused formations or creating new alignments that run parallel to previous corridors. There will be at least two rounds for this fund, with one running in March 2020 and a second running in June 2020.
The fund will offer 75% of costs up to £50k for successful proposals, which will focus on transport and economic studies that will support an initial business case.
Accelerating Existing Proposals
Applications to this fund that have already completed existing business cases/supporting analysis and require further support to move to the next stage of the business case and design process.
Proposals for new and restored railway stations
Round 3 of the New Stations Fund has been launched, offering up to £20m towards proposed railway stations that could be delivered within the next five years.